As you can see on the above 30m chart, EUR/USD has rallied in an impulsive fashion, hopefully indicating that a short-term bottom is in. It formed 5-waves for Wave1, and a choppy 3-waves for Wave-2. If a strong upwards correction is unfolding, the Wave2 low should hold, so I am raising my stop to just below there.8/21/2008
Trade # 15: EUR/USD Long (Update)
I last posted about this trade here. I am now moving my stop to breakeven, at 1.4670. I will continue to trail my stop if the trade progresses in my favor.
As you can see on the above 30m chart, EUR/USD has rallied in an impulsive fashion, hopefully indicating that a short-term bottom is in. It formed 5-waves for Wave1, and a choppy 3-waves for Wave-2. If a strong upwards correction is unfolding, the Wave2 low should hold, so I am raising my stop to just below there.
As you can see on the above 30m chart, EUR/USD has rallied in an impulsive fashion, hopefully indicating that a short-term bottom is in. It formed 5-waves for Wave1, and a choppy 3-waves for Wave-2. If a strong upwards correction is unfolding, the Wave2 low should hold, so I am raising my stop to just below there.
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